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Thursday, Feb 13, 2025
Mugglehead Investment Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Walker River Resources gets drills in the ground in Nevada

In 2024, the initial drill program at Lapon Canyon will include exploratory drilling around the historical Lapon Canyon Mine

Walker River Resources gets drills in the ground in Nevada
Lapon Canyon gold project. Photo by Walker River Resources.

Walker River Resources Corp (TSXV: WRR) started its reverse circulation (RC) drilling campaign on the project in Mineral County, Nevada.

On Monday, Nevada Canyon Gold Corp. (OTC: NGLD) announced that it’s prepared to capitalize on the 3 per cent Net Smelter Royalty (NSR) it has on the Lapon Canyon Property.

In 2024, the initial drill program at Lapon Canyon will include exploratory drilling around the historical Lapon Canyon Mine, the “Central Zone,” and the recently discovered “Hot Spot Zone.” Walker River will use drill holes to expand known gold-bearing mineralized zones along trend and at depth and to explore new mineralization regions that have never been explored before.

Following the blind, high-grade, near-surface discovery made in 2021, the company will also conduct grid-style drilling across the target, probing for expansion of the mineralized zone in all directions as well as continuity with the mineralization of the “Central Zone.”

Grid drilling will space pads around 30 meters apart on a segment, with plans for up to five holes per pad. Furthermore, the mineralization is not visible at the surface because roughly 3 meters of loose colluvium overlays it, blinding the target but also enabling faster drill road access and cheaper pad construction.

Surficial mapping and rock sampling will focus on bedrock exposures near the Lapon Canyon gold targets. Walker Rivers’ main objective is to gather structural data on high-grade mineralization and the extensive disseminated deposits surrounding it.

Read more: Calibre Mining pulls high value gold and silver in Nicaragua

Read more: BMO underwriters agree to invest C$100M in Calibre Mining

Drill programs include definition and systematic drilling

The company has also hired mining consultancy firm Serac Exploration of Vancouver, BC, to manage and supervise the drilling database, conduct geological mapping, create drill logs from RC chips, and develop a three-dimensional model of the Lapon Gold project.

Consequently, Serac’s preliminary interpretations of Lapon’s historical data were used to create a geological model of the Central and Hot Spot zones. This model has already significantly improved the planning and design of Walker’s upcoming 2024 drill program.

The drill programs at Lapon Canyon will also include definition and systematic drilling on sections for geological modelling, exploration drilling to locate new gold mineralization, and extension of existing gold mineralization in various directions, including depth.

Lapon Canyon has a history of high-grade gold mining, with approximately 2,000 feet of underground workings in three adits. Historically, subterranean operations yielded multiple test values in the one-ounce-per-ton range.

It’s one part of Nevada’s rich history with mining, and especially gold mining.

Nevada is home to several companies staking claim across the state. Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF) focuses their exploration efforts in east-central Nevada, operating the Pan Mine southeast of Eureka.

On the other hand, U.S. Gold Corp (NASDAQ: USAU) concentrates their Nevada projects in the western part of the state, while the massive Nevada Gold Mines, formed through a Barrick Gold (TSX: ABX) (NYSE: GOLD) and Newmont Corporation (NYSE: NEM) (TSX: NGT) partnership, dominates the northwestern region, particularly the Carlin Trend renowned for its significant gold deposits.

 

U.S. Gold Corp and Calibre Mining are sponsors of Mugglehead news coverage

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